Ckx Inc

MEMPHIS, Tenn. -- The thousands of Elvis Presley fans descending on Memphis for the 30th anniversary of his death Thursday won't see much sign of it, but plans are moving along for big-time changes at Graceland. Managers of Presley's famous home want to overhaul its tourist complex -- with a new visitors center bigger than a football field, a convention hotel and high-tech museum displays that can give a new, digital life to the King himself.

The next winner of "American Idol" might walk off with the biggest prize yet: the show itself. A bidding war may be on the horizon for CKX Inc., the media and entertainment company whose holdings include 19 Entertainment, producer of the Fox hit "American Idol," as well as a majority stake in Elvis Presley's Graceland mansion. Simon Fuller, the creator of "American Idol" who until earlier this year was a senior executive and board member at the company, is the latest to throw his hat into the ring over the fate of CKX. Fuller is teaming up with financier and former Barclays banker Roger Jenkins on a $600-million bid for CKX, a person close to the situation said.

Media mogul Haim Saban wants to become a brand mogul, too. Saban, who first earned a fortune with "Mighty Morphin Power Rangers" and now is chairman and chief executive of Saban Capital Group, which counts the powerful Spanish-language broadcast network Univision among its holdings, is launching a new company, Saban Brands, and says he is committing $500 million in capital to acquire established entertainment and consumer names. Brands have become one of the latest obsessions for companies looking to reach consumers beyond traditional media.

The chief executive of the parent company of "American Idol," the top-rated show on television, resigned on Friday and said he was weighing a bid for the entertainment and licensing firm. Robert F.X. Sillerman's departure could trigger a bidding war for CKX Inc., which said last month that it was considering a sale of the company. Veteran media investor Allen Shapiro, who is also chairman of TV Guide Network, is working on a potential bid with JPMorgan Chase & Co.'s private-equity arm, One Equity Partners, according to people close to the situation.

The nation's most popular television show — "American Idol" — will be owned by private equity. Apollo Global Management has struck an all-cash deal to acquire CKX Inc., the parent of 19 Entertainment, producer of Fox's hit show, for $5.50 per share, putting the purchase price at about $509 million, a 25% premium from where CKX stock closed Monday. The sale, which is expected to close within the next two months, would end a period of uncertainty for CKX. In the last few years, several suitors including "American Idol" creator Simon Fuller, CKX founder and former chairman Robert F.X. Sillerman and Hollywood dealmaker Allen Shapiro have each made overtures at CKX only to come away empty-handed.

Teenagers in the 1950s and '60s went wild over Elvis Presley, much to the consternation of their parents, but kids in the new millennium aren't so stirred by rock 'n' roll's original rebel. "I can't try to sell somebody Elvis who doesn't know who he is ... that he's not just some guy who's been gone for 30 years," said Paul Jankowski, chief of marketing for Elvis Presley Enterprises Inc.

MEMPHIS, Tenn. -- Finally welcomed by Graceland after all these years, Elvis Presley impersonators need to keep one basic rule in mind -- respect the King. Managers of Presley's home in Memphis plan to anoint their first-ever official Elvis "tribute artist" this week as they mark the 30th anniversary of his death there. But they don't want tacky, they don't want kitschy and they don't want a ridiculous spoof.

A group of National Public Radio reporters and anchors released a letter to listeners and supporters Thursday saying the comments made by a network executive about "tea party" members had damaged the organization but expressing confidence that "NPR will come out of this difficult period stronger than ever. " The journalists said they were "appalled by the offensive comments made recently by NPR's now former senior vice president for development [Ron Schiller]. His words violated the basic principles by which we live and work: accuracy and open-mindedness, fairness and respect.

The pilgrims will still weep at Elvis Presley's grave, and the souvenir shops will still swarm with credit-card-waving fans, an occasional black pompadour hardly drawing a glance. But change is in the air: Strangers are in Graceland. Lisa Marie Presley has sold the business side of her father's estate and turned over his famous white-columned house to CKX Inc., an entertainment company that also owns the "American Idol" TV show.